South Ocean to buy Southern Atlantic Cables for ZAR 4.5 million in share deal

• South Ocean agreed to buy 100% of Southern Atlantic Cables, effective July 1, 2026.
• Consideration set at ZAR 4.5 million, settled via 4,591,837 new South Ocean ordinary shares priced at ZAR 0.98 each.
• Target supplies electrical wire and related products, giving South Ocean a Cape Town distribution foothold.
• Southern Atlantic Cables posted net profit of ZAR 968,800 on net assets of ZAR 969,800 for the year ended Dec. 31, 2025.
• Closing condition limited to listing and issuing the consideration shares; trade receivables warranted collectible within 120 days from the effective date.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. South Ocean Holdings Ltd. published the original content used to generate this news brief via SENS, the regulatory disclosure system operated by the Johannesburg Securities Exchange (JSE) (Ref. ID: S523967), on July 10, 2026, and is solely responsible for the information contained therein.